Sun Life Financial sells SLF of Canada UK to Phoenix Group Holdings
Sun Life Financial has entered into an agreement to sell SLF of Canada UK Limited to Phoenix Group Holdings, Headquartered in London
Insurance News
Global Indemnity agreed to sell American Reliable Insurance Company to Everett Cash Mutual
GBLI (Global Indemnity Group) announced that its subsidiary American Reliable Insurance Company has sold its Farm, Ranch, and Equine book
Aviva to acquire MGA Azur Underwriting – high-net-worth personal lines business
Aviva has signed a binding agreement with specialist MGA Azur Underwriting to acquire its high-net-worth personal lines business in the UK and Ireland
Inefficiencies in underwriting costing the Global insurance industry $160bn by 2027
$170bn of insurance premiums could be at risk in the next five years due to poor claims experiences, with process inefficiencies in underwriting potentially costing $160bn
Allstate announced in Q2 2022 $1 bn net loss, compared prior $1.6 bn income
Allstate has announced a second quarter net loss applicable to common shareholders of $1.04 billion, compared to an income of $1.6 billion in the prior year quarter
S&P reports about operating conditions for P&C insurers in emerging markets
S&P Global Ratings report that persistent pressures from inflation, tightening financial conditions and slower economic growth in China and other markets
Berkshire Hathaway delivered $581 mn insurance & reinsurance underwriting result
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, had another very successful quarter in its P&C reinsurance business in Q2 2022
Financial holding Eurohold sold Avto Union and Eurolease Group
Bulgarian financial holding Eurohold announced it signed a contract for the sale of 100% of the capital of its subsidiaries Avto Union and Eurolease Group… Read More »Financial holding Eurohold sold Avto Union and Eurolease Group
Insurance Europe and EC proposal for European Health Data Space
Insurance Europe has responded to a consultation conducted by the European Commission on its proposal for the establishment of a European Health Data Space (EHDS). The proposal… Read More »Insurance Europe and EC proposal for European Health Data Space
Insurance Market Index: Global commercial insurance prices increased 9%
Global commercial insurance prices increased 9% in the second quarter of 2023, down from an 11% increase in Q1, according to the latest Global Insurance… Read More »Insurance Market Index: Global commercial insurance prices increased 9%
Insurance claims in Louisiana from damage related Hurricane Ida exceedes $13 bn
Insurance claims in Louisiana from damage related to last year’s Hurricane Ida have exceeded $13 billion through June 30th. State officials said that 185 buses… Read More »Insurance claims in Louisiana from damage related Hurricane Ida exceedes $13 bn
NN Group completed the sale of the life insurance subsidiary of AAV to NN Life & Pensions
NN Group, ABN AMRO Bank and their joint venture ABN AMRO Verzekeringen (AAV) announce today that they have completed the sale of the life insurance… Read More »NN Group completed the sale of the life insurance subsidiary of AAV to NN Life & Pensions
Three new members will join the Board of Directors of Bulgarian Euroins Insurance Group
New members will join the Board of Directors of Bulgarian Euroins Insurance Group (EIG), the insurance subholding of Eurohold. They are Todor Danailov, Kremena Pateva… Read More »Three new members will join the Board of Directors of Bulgarian Euroins Insurance Group
Players Health Launches Sports Insurance Product
Players Health, an innovative sports platform and insurtech MGA, today launched a unique insurance product enabling amateur and professional sports teams to buy comprehensive insurance… Read More »Players Health Launches Sports Insurance Product
Fairfax Financial Holdings announces net loss of $881mn
Fairfax Financial Holdings has announced a net loss of $881.4m in Q2 2022 after net earnings of $1,201.4m in the same period the year before.… Read More »Fairfax Financial Holdings announces net loss of $881mn
Global estimated insured losses from natural catastrophes at $35 bn
Floods and storms drive global insured catastrophe losses of USD 38 billion in first half of 2022, Swiss Re Institute estimates
Coface posted a net income of €78 mn, Trade Credit Insurance premiums grows by 16%
Coface has reported H1 2022 income of €144.4m in its latest results. Turnover in the period of €895m. Trade Credit Insurance premiums were growing by… Read More »Coface posted a net income of €78 mn, Trade Credit Insurance premiums grows by 16%
Insurance framework should focus on regulatory field & control consumer`s data
Insurance Europe stressed the importance of respecting the principle of “same activities, same risks, same rules” and the need true field
Zurich Insurance has seen a ‘sharp increase’ in fraudulent insurance claims
Zurich Insurance has warned of “a sharp increase” in the number of insurance fraud cases it receives, echoing calls that the cost-of-living crisis
Insurers will cover ships that export Ukrainian grain only by arrangements navy escorts
Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy… Read More »Insurers will cover ships that export Ukrainian grain only by arrangements navy escorts
Insurance Sector is not Exposed to the Business Interruption Losses due to Russian Gas cut-off
The insurance sector is not materially exposed to the business interruption losses that could arise due to a cut-off in Russian gas supplies to Europe,… Read More »Insurance Sector is not Exposed to the Business Interruption Losses due to Russian Gas cut-off
UK Motor Insurance Results & Forcasts: Claims Inflation & Premiums Accelerates
Motor insurers last year recorded a Net Combined Ratio (NCR) of 96.6%, according to EY’s latest UK Motor Insurance Results
Surplus Lines Insurance Premiums Exceeded $31 bn (+32%)
Surplus lines insurance premiums exceeded $31 billion, and premium bearing transactions neared 2.8 million, according to the report of the US Surplus Line Service and… Read More »Surplus Lines Insurance Premiums Exceeded $31 bn (+32%)
Willis Towers Watson has Issued a Statement on Solvency II Insurance Reforms
Willis Towers Watson has issued a statement on Solvency II reforms, saying that the package of reforms under consultation has the potential to create clear… Read More »Willis Towers Watson has Issued a Statement on Solvency II Insurance Reforms
Insurer`s damage from large wildfires in Europe has a 75% jumped
Damage from large wildfires in Europe has jumped dramatically, with a 75% increase in the amount of land burnt in the last year. The countries… Read More »Insurer`s damage from large wildfires in Europe has a 75% jumped
DMD rules need to ensure consumers can easily access insurance protection
Insurance Europe has submitted its response to the EC consultation on its proposal to repeal the Directive on Distance Marketing of Consumer Financial Products (DMD) and to… Read More »DMD rules need to ensure consumers can easily access insurance protection
India’s Life Insurance Market to 10.3% CAGR & $150.6bn Premiums by 2026
India’s life insurance market is expected to grow at a compound annual growth rate (CAGR) of 10.3% through 2026, driven by growing awareness and positive… Read More »India’s Life Insurance Market to 10.3% CAGR & $150.6bn Premiums by 2026
Re/Insurance sector invests one in every 3 euros in public debt
The insurance sector invests one in every three euros in public debt, according to a new report by MAPFRE Economics. The report, ‘Global savings after… Read More »Re/Insurance sector invests one in every 3 euros in public debt
AXA Germany sell a portfolio of life & pensions insurance reserves worth €16 bn
AXA Germany has reached an agreement to sell a portfolio of life and pensions insurance reserves worth €16 billion. AXA will sell the portfolio to Athora Germany for a consideration of EUR660 million.
Aercap sued $3.5bn lawsuit against AIG and Atrium Lloyd’s over planes stranded in Russia
Aercap, the largest global aircraft leasing firm, has sued AIG and other insurers including Lloyd’s business Atrium over planes stranded following the outbreak of conflict… Read More »Aercap sued $3.5bn lawsuit against AIG and Atrium Lloyd’s over planes stranded in Russia
Insurers will pay compensation estimated at €4 bn for French storms losses
The bad weather that has affected France since the end of May has generated nearly a million claims for which insurers will pay compensation estimated… Read More »Insurers will pay compensation estimated at €4 bn for French storms losses
Mexico’s Insurance Industry Outlook 2026: $26 bn premiums, CAGR of 7.5%
Mexico’s general insurance industry is expected to grow at a CAGR of 7.5%, from $18.2 billion in 2021 to $26.1 billion in 2026
Non-insured losses on the Africa are close to 97%. Disaster Risk Financing
Only 3% of losses caused by drought, floods and tropical cyclones have been insured on the African continent
Covéa completes deal to purchase PartnerRe for $9.3 bn
Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR and holding company, for a total cash consideration of $9.3 billion
Insured losses from natural catastrophes estimated at $100bn
1H losses would be around 40% of the 10-year average of $11.1 billion for US seasonal catastrophes in that quarter.
European insurers said that it does not plan to use IFRS 17 yet
Fitch have stated that the first public comments from Dutch insurer – ASR, on the implications of IFRS 17 support Fitch Ratings’ view
SMEs risk being priced out of cyber insurance as rising costs
SMEs risk being priced out of cyber insurance as rising costs force them to prioritise other areas of their business, according to market research company GlobalData.
Insurers call on EDPB to align draft guidelines on GDPR fines with IFRS
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft guidelines on the calculation of administrative fines under the… Read More »Insurers call on EDPB to align draft guidelines on GDPR fines with IFRS
London Insurance Market’s electronic placement platform has been delayed
The next phase of the London Insurance Market’s electronic placement platform NextGen 2.0 has been further delayed, this time to February of next year
Main trends that are making insurers shift to risks prevention
The two main trends that are making insurers shift to prevention are the growing complexity of risks society faces, and the ever-increasing availability of data
Insurers are relatively well prepared for a recession
The privately owned bank also predicts a shallow recession in 2023 across Europe, the UK and the US, according to a newly issued sector note by Berenberg
How insurers can help to reduce climate change impact in Africa
Through analysis, underwriting, investment and advice, insurance sector of Africa is helping to understand the complexities of climate change
Insurers and Policymakers must work together to tackle protection gaps
Significant protection gaps exist in societies and economies around the world and coordinated action is required from policymakers, insurers and the public to address them. … Read More »Insurers and Policymakers must work together to tackle protection gaps
Home and Auto insurance Startup Branch raised $147 mn
Branch, a startup offering bundled home and auto insurance, has raised $147 million in Series C funding at a postmoney valuation of $1.05 billion
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Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
US insurance sector outlook for 2025-2026: capital strength, social inflation risks, P&C returns peak, Florida reforms, life insurance resilience and alt capital trends
Teen drivers face crash rates nearly 4x higher than adults. Safer vehicle choices and smart insurance decisions can lower risk and costs for families